Nah, repeat wouldn't achieve the same effect--the player could just hold down a direction and, within a second or so, would have a running character. It would require two variables: one that acts as a frame counter and another that stores the current direction. When a direction is pressed, it stores it into direction and sets counter to zero. Each frame, counter increases by 1. If the player hits the same directional key again (Input.trigger?) before counter reaches a certain amount, the running effect is true. While running is true, we no longer need to process/update counter and direction. However, once Input.dir4 == 0 (no direction key is being pressed), running is false and we now process the two variables again.
But, as I said, until someone edits the player movement BABS, we can't even start doing this request. (Actually, I'd really like it if BABS could change how it processes player movement. The fact that it resets the player's move speed to normal every frame and then changes the move speed based on if RUNNING or SNEAKING keys are held is quite restrictive. For example, combos cannot modify the game player's speed, yet it works perfectly fine on allies and enemies.)